Per Ken Rosenthal of Fox Sports, this is the largest deal in MLB history for a closer who has not hit free agency. He also reported that it has the potential to eclipse Jonathan Papelbon's four-year, $50 million contract that the reliever signed with the Philadelphia Phillies in 2011:

Kimbrel money first reported by @jaysonst. Deal is largest extension for a closer pre-free agency. Can grow to bigger than Papelbon’s 4/50.

According to ESPN, Wren is pleased that his front office was able to reach a deal with the pitcher, calling him the “best closer” in the majors:

We are very excited to agree to terms with Craig, who we feel is the best closer in Major League Baseball. He is one of the key pieces of our pitching staff and we are happy to keep him in a Braves uniform for at least four more years.

Bowman noted that Kimbrel initially did not believe an agreement would be struck, but negotiations over the past week cleared the way for this four-year arrangement:

Kimbrel said he didn't think an agreement was possible until the two sides began getting closer during this week's negotiations.

Retaining Kimbrel was one of the main focuses of Atlanta’s offseason, as the right-hander is instrumental to the organization's sustained success. He led the National League in saves in each of the past three seasons and helped the Braves make two straight playoff appearances.

In 2013, he had 50 saves along with 98 strikeouts and a 1.21 ERA in 67 innings of work. He was named to the All-Star team for his efforts, the third straight year he earned that distinction.

David Goldman/Associated Press

What do you think about this deal?

The Braves got a bargain.It was equal for both sides.Kimbrel is now overpaid.Submit Votevote to see results

What do you think about this deal?

The Braves got a bargain.

36.3%

It was equal for both sides.

55.1%

Kimbrel is now overpaid.

8.6%

Total votes: 3,304

Kimbrel is going to be a key cog in the Braves’ plan to return to the postseason in 2014. The club is coming off its first NL East pennant-race victory since the 2005 season, but it hasn’t won a playoff series since the 2001 National League Division Series.

With the team also locking up Jason Heyward and Freddie Freeman earlier in February, securing Kimbrel is another important move.

Atlanta lost to the Los Angeles Dodgers in four games this past October and hasn’t been to the World Series since falling to the New York Yankees in 1999.

Kimbrel may not be able bring this group back by himself, but his powerful arm coming out of the bullpen will be a major asset to the Braves’ potential championship push over the next few years.